liaoning province-based major Chinese iron and steel company Anshan Iron and Steel (Ansteel) announced that it recorded operating revenue of 22.021 billion yuan ($3.2 billion) in the January-March period this year, down 12.19% year-on-year, while posting a net loss of 1.457 billion yuan ($0.21 billion) for the period, compared with a net loss of 554 million yuan in the same period the previous year.
The general slowdown in the steel industry in the first three months of this year had a negative impact on Ansteel's performance, while year-on-year declines in steel sales prices outpaced declines in raw material prices. Meanwhile, repair work on individual production lines led to a year-on-year decline in the company's steel production and sales in the period under review.
$ 1 = RMB 6.8487
